scholarly journals Monetary and Fiscal Policies in the COVID-19 Crisis. Will They Work?

2020 ◽  
Vol 2 (3) ◽  
pp. 1
Author(s):  
Daniel Lacalle
Keyword(s):  
World War Ii ◽  
Aggregate Demand ◽  
Recovery Process ◽  
Time Frame ◽  
Fiscal Policies ◽  
Demand Side ◽  
Economic Sectors ◽  
Supply Shock ◽  
The World ◽  
Economic Regions

The spread and mortality rate of the COVID-19 virus has created enormous strains on global healthcare systems and driven governments to take extreme measures to contain the virus, including the lock down of most citizens and shutting down most economic sectors. Due to these unique challenges and coming from an economy that was weak already in 2018 and 2019, the world faces a global crisis of unprecedented impact and high uncertainty about the recovery process. In this paper, we analyze how the world economy is addressing the COVID-19 pandemic. We start with the situation of the main economic regions at the end of last year to understand the tools available to fight against what could be the worst crisis since World War II, according to the IMF1. Moreover, we review the estimated economic impact of COVID-19, as well as the expected recovery and its time frame. Additionally, we reflect on the fiscal and monetary measures adopted by different countries, especially G7 economies, to tackle the crisis. Finally, we discuss the optimal policies to overcome the situation and advance towards economic recovery and the stabilization of public finances. This crisis is a supply shock added to a forced shutdown of the economy. As such, traditional tools to boost credit demand and usual demand-side policies alone are likely to generate little positive effect, as any aggregate demand that may be incentivized will not likely be followed by aggregate supply. A combination of demand-side and supply-side measures may prove to be more effective to boost the recovery after the pandemic.

Stabilization and Economic Growth in Developing Countries (Invited Lecture)

1987 ◽  
Vol 26 (3) ◽  
pp. 341-361
Author(s):  
Mohsin S. Khan
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Exchange Rate ◽  
Real Exchange Rate ◽  
Aggregate Demand ◽  
Domestic Demand ◽  
Balance Of Payments ◽  
Fiscal Policies ◽  
Demand Side ◽  
Aggregate Level

The need for stabilization typically arises when a country experiences an imbalance between domestic aggregate demand and aggregate supply, which is reflected in a worsening of its external payments position and an increase in the rate of inflation. To combat these twin problems, policies are required that restrain domestic demand and, at the same time, expand the production of tradeable goods, thereby easing the balance of payments constraint. Policies to influence the aggregate level or rate of growth of domestic demand and absorption, generally labelled as "demand side policies", include the whole range of monetary and fiscal measures, while the shifting of resources towards the production of tradeables involves altering the country's real exchange rate through devaluation. In general, monetary and fiscal policies and exchange rate action are considered an integral, if not an indispensable component of any stabilization programme.

How Radar Technology Changed the Course of the World after World War II - Science and Technology

Unity Journal ◽  
2021 ◽  
Vol 2 ◽  
pp. 243-250
Author(s):  
Sirjana Pun
Keyword(s):  
World War Ii ◽  
Phased Array ◽  
Time Frame ◽  
Radar System ◽  
Modular System ◽  
Moving Target ◽  
World War ◽  
The Past ◽  
Radar Systems ◽  
The World

After the independent invention of radar in the early 1930s, the development of radar went rapidly during World War II (1939-1945) when both Axis and Allied forces relied on the system to get an edge over the other. Ever since the war, radar technology has substantially increased in its innovation and capability throughout the years. This paper examines the progress of radar technology following World War II (1939-1945) with an aim to provide a landscape of the prevalent radar system during the war which was mono-pulse tracking radar systems and moving-target indication (MTI) system. After a thorough background study of the past radar system, the paper highlights application of the newer developed Phased Array Radar System which was formulated out through the implementation of the improved capabilities of both prevalent systems. Moreover, the paper provides a brief overview of the modular system and formulates a time frame relating to the development of radar research. Thus, the paper, later on, foresees the prominent future where phased array systems could be expanded to civilian and non-civilian technological research by providing thorough research and comparative analysis. Phased array systems are found to a prominent possible cheaper alternative for the civilian and non-civilian system. It shows prominence to be an effective useful tool for radar systems.

scholarly journals The Potential Effects of Biden’s Infrastructure Bill on the American Economy

2021 ◽  
Vol 2 (5) ◽  
Author(s):  
Victor Kilanko
Keyword(s):  
World War Ii ◽  
New Deal ◽  
Aggregate Demand ◽  
World War ◽  
Net Benefit ◽  
Expected Inflation ◽  
Aggregate Supply ◽  
The World ◽  
American Economy

With the world still battling COVID-19 and the attendant effect on the economy, the almost new President Biden’s administration proposed the Build Back Better agenda to get America and Americans working again. This paper is written to address the effect of the proposed infrastructure bill on the American economy. Comparison is drawn between the infrastructure bill and Franklin D. Roosevelt’s new deal before World War II. It is understood that the bill may increase inflation because of the effect of expected inflation, but the bill may also increase aggregate demand and aggregate supply which will be of overall net benefit to the economy.

Demand-side Models of Short-term Income Formation

2020 ◽  
pp. 77-124
Author(s):  
Giovanni Andrea Cornia
Keyword(s):  
Private Consumption ◽  
Aggregate Demand ◽  
Fiscal Policies ◽  
Demand Side ◽  
Closed Economy ◽  
Demand Model ◽  
Short Term ◽  
Advanced Economies ◽  
Policy Shocks ◽  
Exogenous Factors

The chapter discusses different formulations of the main behavioural equations for private consumption, investments, and money demand that are used in the advanced economies for building a short-term Keynesian aggregate demand model, and the IS-LM, AS-AD, and Mundell–Fleming models. These models are used to study the formation of the level of income over the short term in the advanced countries, under both open and closed economy conditions. As such, these models allow us to study the fluctuations of the level of income over the short term due to exogenous factors or policy shocks, for example expansionary or contractionary fiscal policies, monetary and wage policies, or changes in consumer and investor expectations. The chapter identifies the conditions implicit in such models for the success of expansionary policies in advanced countries.

scholarly journals Patents as an indicator of the future development of individual region

2021 ◽  
Vol 115 ◽  
pp. 03008
Author(s):  
Peter Kubík
Keyword(s):  
Research And Development ◽  
Future Development ◽  
New Technologies ◽  
Consumer Preferences ◽  
Aggregate Demand ◽  
Economic Sectors ◽  
Know How ◽  
The World ◽  
The Future

In today’s world full of changes, whether the advent of new technologies that are authoritative and will be a trend for many economic sectors or impact Covid epidemic whose effects are still unaware can be sure that the changes in consumer preferences and aggregate demand and increasingly more competition between the largest economies in geographical terms, all this puts more importance on research and development. It is expected a new impetus in the field of patents that will respond to new impulses from the market. Monitor the development of patents over the last year in the broader perspective implies growth or decline in individual industries and economies, are interesting differences in the intensity of new know-how even within different regions of the world.

THE ROLE AND ROLE OF OIL POLICY IN SAUDI ARABIA IN POST WORLD WAR II ECONOMIC LIFE

2019 ◽  
Vol 20 (2) ◽  
pp. 37-41
Author(s):  
Maftuna Sanoqulova ◽  
Keyword(s):  
Saudi Arabia ◽  
World War Ii ◽  
Economic Life ◽  
World War ◽  
Post World War Ii ◽  
The World ◽  
History Of ◽  
Oil Policy

This article consists of the politics which connected with oil in Saudi Arabia after the World war II , the relations of economical cooperations on this matter and the place of oil in the history of world economics

A war hero or a Hitler soldier?

2019 ◽  
pp. 50-57
Author(s):  
Pavel Gotovetsky
Keyword(s):  
Twentieth Century ◽  
World War Ii ◽  
Interwar Period ◽  
Military Service ◽  
Third Reich ◽  
National Committee ◽  
World War ◽  
The Third ◽  
The World ◽  
The Third Reich

The article is devoted to the biography of General Pavlo Shandruk, an Ukrainian officer who served as a Polish contract officer in the interwar period and at the beginning of the World War II, and in 1945 became the organizer and commander of the Ukrainian National Army fighting alongside the Third Reich in the last months of the war. The author focuses on the symbolic event of 1961, which was the decoration of General Shandruk with the highest Polish (émigré) military decoration – the Virtuti Militari order, for his heroic military service in 1939. By describing the controversy and emotions among Poles and Ukrainians, which accompanied the award of the former Hitler's soldier, the author tries to answer the question of how the General Shandruk’s activities should be assessed in the perspective of the uneasy Twentieth-Century Polish-Ukrainian relations. Keywords: Pavlo Shandruk, Władysław Anders, Virtuti Militari, Ukrainian National Army, Ukrainian National Committee, contract officer.

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